Smart procurement could save UK SMEs £106 billion

Small and medium-sized enterprises (SMEs) in the UK could be saving £106bn through smarter procurement, according to research.

The chief procurement officer (CPO) has never wielded more power. Pressure on profits and increasing risk has meant that CPOs have to be innovative, productive and competitive.

According to research, 11% of senior business decision makers thought they could save more than £100,000 by shopping around for better deals. More than two thirds (69%) of SMEs are paying more attention to the amount spent on goods and services than a year ago.

The CPO must negotiate security and cyber-security concerns with suppliers and supply chains, manage the price of supply and drive up competition where necessary. In 2016 chair of the NHS Co-operation and Competition Panel, Lord Carter, suggested that NHS England could save £1bn on procurement if hospitals could sort out their supply-chain issues.

Win That Bid, and their partners, Thornton & Lowe have supplied procurement assistance on projects worth over £400m since 2011.

With specialist knowledge of value for money assessments, spend analyses, asset management and procurement best practice, the value of Win That Bid, and their partners, Thornton & Lowe is easily measurable across your organisation.

You can contact a member of our bid-management team at one of our offices across the UK. Greater Manchester – 01204 238 096, Midlands – 0121 523 1051, Central Scotland – 01334 208 312, North East – 0191 580 0636, London – 203 405 1850 or email: hello@thorntonandlowe.com.